Frontier Company, a successful efforts company, has a 1/6 royalty interest in an unproved property. Assume that

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Frontier Company, a successful efforts company, has a 1/6 royalty interest in an unproved property. Assume that Frontier Company’s net capitalized cost in the property is $200,000.

REQUIRED: Give the entry to record the sale of the entire royalty interest for:

a. $170,000

b. $220,000

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Fundamentals Of Oil And Gas Accounting

ISBN: 9781593703639

6th Edition

Authors: Charlotte Wright

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Question Posted: Mar 08, 2024 10:00 AM

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Frontier Company, a successful efforts company, has a 1/6 royalty interest in an unproved property. Assume that

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Fundamentals Of Oil And Gas Accounting

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